Program · Federal
Newcomer mortgage programs
Mortgage insurance programs from CMHC, Sagen, and Canada Guaranty designed for buyers with limited Canadian credit history. Accept alternative documentation such as foreign credit references.
Eligibility
- Permanent Resident: typically 5% minimum down payment
- Non-permanent resident: minimum 10% down payment, stricter employment history
- Landed in Canada within the last 5 years for most programs
Limits and rules
- Foreign credit report or 2 reference letters from home-country institutions accepted in most programs
- Employment: usually 3+ months continuous Canadian employment (or offer letter)
- Higher-value properties face additional down payment requirements